David’s Bridal bankruptcy: Are we seeing a cultural shift?

David’s Bridal is reportedly filing for Chapter 11 bankruptcy protection after it eliminated over 9,000 positions across the United States.

The formal-wear company has been one of the largest retailers of wedding gowns in the country.

According to ABC 11, the news comes after David’s Bridal laid off 9,236 positions across the country. The Pennsylvania-based company reportedly employs around 11,000 workers nationwide.

Neil Saunders, managing director of GlobalData Retail, said that the “scale of these layoffs suggest that David’s Bridal is in crisis mode,” adding that the company’s behavior “indicates there is massive restructuring going on behind these scenes with a view to conserve cash as the company prepares for either bankruptcy or a sale.”